On National Startup Day, CoinDCX reaffirms its commitment to bolster the Web3 ecosystem; extends an invitation to startup entrepreneurs and builders to join forces in shaping the future of Web3 in India.
CoinDCX, India’s leading and most valued crypto exchange, proudly announces its strategic partnership and investment in KoinX, a pioneering platform that has automated crypto taxation for Indian investors. Against the backdrop of the recent FIU India’s show cause notice to offshore exchanges and the subsequent return of investors to CoinDCX, this partnership becomes even more significant. This partnership, through its investment arm, CoinDCX Ventures marks a significant advancement following CoinDCX’s earlier integration and exemplifies CoinDCX’s commitment to facilitating a seamless and secure crypto trading experience for its ever-expanding user base.
Besides capital investment, the strategic partnership is rooted in a co-development approach. This involves contributing insights into product development with a customer-centric focus and aligning marketing efforts to enhance visibility for KoinX along with an added advantage of tapping into the CoinDCX community of 1.4 Crore+ users.
CoinDCX has been fueling India’s Web3 revolution through strategic partnerships and investments. CoinDCX Ventures has over 15 companies under its portfolio and has deployed $10 million to bolster the Web3 sector in India and beyond. Some of the web3 startups it has invested in include Spheron, Syndr, Liminal, Push (previously EPNS), Router, Space & Time, Orderly, Zulu, Bush, Unstoppable Domains, amongst others.
Rohit Jain, Managing Director of CoinDCX Ventures, said,” CoinDCX takes pride in KoinX’s emergence as a leading crypto tax platform. We relentlessly focus on supporting exceptional Web3 startups to build and scale their companies. In the case of KoinX, we see even more potential, considering the burgeoning crypto ecosystem and the need to scale the tax platform to meet requirements. Our team brings collective knowledge and experience, guiding these startups towards developing PMF and gaining access to a broader ecosystem.Today as we celebrate ‘National Startup Day’ we invite more like-minded innovators to join forces with us. Together, we can shape the future of Web3 in India and empower millions of users to unlock its potential.‘
Punit Agarwal, Founder of KoinX, stated, “In line with CoinDCX’s commitment to ensuring a compliant crypto trading journey, we take pride in offering a one-click solution within the app. This feature allows users to calculate and file their taxes effortlessly, emphasizing KoinX’s dedication to providing easy integration for a user-friendly experience. KoinX focuses on reaching a larger pool of crypto investors, ultimately leading to a more significant number of compliant and satisfied users. The partnership strengthens our mission of providing exceptional crypto tax solutions and establishes KoinX as a preferred choice for users seeking a seamless and compliant trading journey.”
This partnership between CoinDCX and KoinX will bring several benefits for users, including:
- Streamlined integration from CoinDCX: Users will enjoy a seamless experience by effortlessly connecting their CoinDCX account to KoinX’s platform. This integration eliminates the complexities of dealing with intricate crypto addresses while allowing users to import their transactions swiftly.
- Integration with multiple exchanges and wallets: In addition to CoinDCX, users can integrate their various wallets and exchanges with KoinX’s platform. This integration provides users with a consolidated view of their crypto portfolio and tax liabilities, allowing for better management and analysis.
- Accurate and efficient crypto tax calculations: Leveraging KoinX’s advanced technology and expertise, users can accurately and efficiently calculate their crypto tax liabilities. With support for over 25,000 crypto assets, 120+ wallets and exchanges, NFTs, and DEXes, KoinX ensures comprehensive coverage. The platform also generates transparent and fully compliant tax reports in accordance with Indian tax laws.
CoinDCX continues to be at the forefront of India’s Web3 revolution through strategic collaborations. The recent partnership with KoinX exemplifies CoinDCX’s commitment to supporting startups, offering user-centric solutions, and actively contributing to the building of a brighter Web3 future for India.
About CoinDCX
Established in 2018, CoinDCX is the preferred crypto exchange in India, trusted by over 1.4 crore registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets.
We prioritize user safety and security, strictly adhering to KYC and AML guidelines. In our commitment to quality, we employ a stringent 7M Framework for the listing of crypto projects, ensuring users access only the safest digital assets.
CoinDCX has partnered with Okto for India to launch a secure multi-chain DeFi app that offers a keyless, self-custody wallet. It aims to simplify the world of decentralized finance (DeFi) by providing a secure, user-friendly, and innovative solution for managing digital assets.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem. Our flagship educational initiative, #NamasteWeb3 empowers Indians with crypto knowledge, preparing them for the future of virtual digital assets. CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures.
At CoinDCX, we are leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and education.
About KoinX
KoinX was founded with a singular mission: to simplify the often complex world of crypto tax calculations, reporting, and accounting. Our journey has been marked by remarkable milestones, with over 100 million transactions worth $75 billion processed to date. As the numbers continue to grow daily, we’ve become a trusted name in crypto tax management, generating over 100k+ tax reports and seamlessly integrating with 180+ platforms.
Beyond tax, we’ve ventured into crypto accounting, providing individuals and businesses with a comprehensive financial solution for their digital assets. Notably, our efforts have garnered support from prominent figures in the startup realm, including Sandeep Nailwal, Co-Founder of Polygon; Utsav Somani, Partner at iSeed; Navin Gupta, Managing Director at Ripple; and Sidharth Malik, Global CEO at CleverTap.
At KoinX, we aim to empower crypto investors worldwide by demystifying the complexities of crypto laws and taxation. We remain steadfast in our commitment to innovation, reliability, and compliance. Learn more about KoinX here–
Demonstrating a strong commitment to supporting all invested companies, CoinDCX, through its investment arm, CoinDCX Ventures, actively assists its partners in developing product-market fit to become category leaders.
For more information, please contact
- Sharjil Shaikh, Director – Media relations
- 9920231055
- Disha Guha
- 8388820313
- Disha.guha@veritasreputation.com
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